5 Options to Help With Funding Senior Care and Housing

Options to help fund senior care

When it comes to healthy aging, quite honestly, there’s a lot to do. You’re supposed to make sure to keep your body active and your brain engaged all while maintaining your social connections as well. Sure, the benefits to your overall well-being are worth the effort, but retirement is supposed to be a time with less responsibility on your plate, right? Well, it turns out that in senior living you can have your cake and eat it too, so to speak. Here’s how programs like our Vivid Life make keeping active, engaged, and connected easy and fun! 

Benefits of Healthy Aging 

Good things happen when you focus on healthy aging. In addition to feeling better overall, which in and of itself is a win, other benefits of keeping active, engaged, and connected include:  

  • Improved ability to do everyday things ​ 
  • Reduced impact of illness and chronic disease​ 
  • Enhanced mobility, flexibility, and balance
  • Improved sleep
  • Increased energy level
  • Reduced feelings of depression and stress
  • Increased feelings of happiness and self-confidence
  • Reduced risk of cognitive decline 
  • Increased mental adaptability and cognitive reserve 
  • Improved memory recall and problem-solving skills 
  • Improved concentration and attention to detail  

How Senior Living Can Help 

At home, particularly when living alone, it can be hard to stay as active, engaged, and connected as you’d like. From lack of opportunity to lack of motivation to lack of transportation to mobility challenges, and more, it’s tough, we get it! That’s why we created the Vivid Life program in our senior living communities. It’s composed of three parts: Vibrant Body, Vibrant Brain, and Vibrant Connections. Here’s what each entails:  

Vibrant Body We offer amenities such as a state-of-the-art fitness center, a pool, walking trails, gardening opportunities, and even a dog park to help you stay active. A sample of activities includes:  

  • Walking club – Daily walks at different outdoor locations using pedometers to measure steps. 
  • Yoga – At least once per week for gentle yoga, and once per week for mindful breathing. 
  • Fitness classes – At least two times per week using a variety of hand weights, resistance bands, and circuit-type exercises. 
  • Tai Chi – At least once per week with a live instructor. 
  • Non-traditional exercise – Dancing, gardening, etc. at least two times per week. 
  • Physical games and sports – Golf, putting, bowling, croquet, bocce, and ping pong available daily with organized events one to two times per week. 

Vibrant Brain We offer monthly calendars filled with classes, events, creative arts, and enrichment opportunities to help keep you engaged. A sample of activities includes: 

  • Visiting lecture series – Twice per month with topics such as cultural, historical, local interest, career-oriented, etc. 
  • Creative art series – At least one per week with a theme that runs 3-6 weeks, such as poetry writing, storytelling, painting, digital photography, etc. 
  • Learning series – At least three times per month with an emphasis on learning something new such as foreign language, sign language, technology, hobbies, etc. 
  • Games – At least one time per week and may include poker, bridge, Scrabble, etc. 
  • Mindfulness – A meditation class once per week and gratitude discussion group twice monthly. 
  • Church service – At least once a week through visits by local churches. 
  • Stress reduction – At least once per month class that offers deep breathing exercises, nature walks, music appreciation, spa-type treatments, etc. 

 Vibrant Connections We offer resident-led clubs, social events, outings and volunteer opportunities for any interest to help you stay connected. A sample of activities includes: 

  • Outings – At least twice per month and may include going to concerts, art shows, museum visits, theatre productions, etc. 
  • Intergenerational programming – At least once per month and focuses on building relationships between young adults/children and residents. 
  • New resident welcome party – At least once per month to formally introduce all new residents, and includes ice breakers, social games, etc. to encourage connection. 
  • Philanthropic program – At least once per month provide residents the opportunity to give back to the community, such as volunteering for a local food bank or pet shelter. 
  • Resident-led clubs – May include game clubs, professional clubs, common interests, etc. that meet at least monthly.  

What’s more, it’s all right outside your door (or transportation is provided offsite) and all in a supportive environment with home maintenance, housekeeping, and restaurant-style dining freeing your time to make it even easier to stay active, engaged, and connected. 

Learn more about Vitality Living’s Vivid Life programs. Or find a Vitality Living community near you today to schedule a tour. 



One of the biggest concerns for families when a loved one needs senior care and housing is how they will afford it. However, a limited budget doesn’t mean it’s out of reach. In fact, funding senior care and housing may be more affordable than you think. Here are five options that can help.

  1. Veterans Aid & Attendance Benefit 

Wartime veterans or a surviving spouse may be eligible to receive a non-service-connected pension (above the basic pension) to assist in funding senior care if you meet certain conditions including military service, medical, and financial requirements.

  1. Long-Term Care (LTC) Insurance

LTC insurance can help in funding senior care by covering services typically not covered by health insurance, Medicare, or Medicaid. However, it is typically necessary to be in good health to qualify so it’s a good idea to plan ahead. Plus, the older you are when you purchase the policy, the more expensive your premium might be. 

  1. Life Insurance Conversion

If you have an in-force life insurance policy you may be able to convert it into a pre-funded financial account that disburses a monthly benefit to help in funding senior care. Unlike life insurance, this account is a Medicaid-qualified asset.

  1. Reverse Mortgage 

This is a type of home equity loan for homeowners 62 or older who want to access their equity to help in funding senior care. The lender makes payments to the borrower based on a percentage of accumulated equity, and the loan must be repaid when the borrower dies, sells the home, or permanently moves out.

  1. Current Assets as Collateral

You may already have more options for funding senior care available to you than you realize. Consider selling or renting your home, for example. What savings, stocks, bonds, or annuities do you have? Not to mention income such as Social Security or a pension. Any or all of these can help towards senior care and housing.

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Funding Senior Care Versus Living at Home

Many families assume it’s always cheaper to use at-home care, but it has its costs as well, both in dollars and in emotional toll. 

First, the cost of living at home isn’t just mortgage or rent. You must include what you pay for food, utilities, home maintenance, property taxes, insurance, and entertainment because these things are typically included in the monthly cost of senior care and housing. Of course, you’ll also need to factor in the cost of at-home care and/or home modifications, too. All told, staying home may end up costing more in some circumstances!

Second, typically, when a loved one stays home, family members take on more of a caregiving role. The emotional toll of caregiving is often more than families realize. Caregivers are often raising children, at the same time; in addition to the stress of trying to balance it all, relationships can suffer with children and spouses as you’re pulled in so many different directions. Over time, it can also affect your relationship with the loved one to which you’re providing care as they may begin to feel guilty and resentful. Whereas, with senior care and housing, you’re able to continue enjoying life right alongside your loved one without those caregiving burdens weighing on both of you.
For more information on funding senior care, download our Family Guide to Funding Senior Care & Housing today! Or contact us today to schedule a tour.

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